Organigram Makes Strides In Global Cannabis Industry With New Supply Partnership

Organigram Holdings Inc. OGI OGI has expanded its global footprint by entering into a supply agreement to provide dried medical cannabis flower to 4C LABS, a healthcare, technology, and pharmaceutical company focused on virtual prescribing, pharmaceutical distribution, and clinical development of cannabis-based products for human health in the United Kingdom.

The Deal

Under the terms of the agreement, the Toronto-based company expects to supply roughly 600 kilograms of high-quality, indoor-grown dried flower product to 4C LABS within the first year of the agreement and grant it strain exclusivity within the geographical boundaries of the United Kingdom and the Channel Islands for as long as minimum purchase commitments are satisfied.

Beena Goldenberg, CEO of Organigram, said the company is thrilled with the new partnership.

“Medical cannabis has been legal in the UK since 2018,” she said. “However, due to significant energy cost premiums compared to Canada, access to consistent, high-quality products in this market is limited, making importing medical cannabis an attractive option for this growing market.”

Meanwhile, Organigram entered into a supply agreement for dried cannabis flower earlier this year with the medical division of German cannabis company Sanity Group. Through exports from its cultivation facility in Moncton, Organigram already services medical patients in Israel and Australia.

To learn more about the latest marijuana trends, both globally and in use, come and join us at the Benzinga Cannabis Capital Conference is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Price Action

Organigram’s shares traded 1.4706% lower at $1.34 per share at the time of writing on Tuesday morning.

Photo: Courtesy of Iryna Rahalskaya on Shutterstock